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erre (OP)
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March 02, 2014, 11:35:35 AM
 #1

I was thinking about the success of Auroracoin... with a market cap of 162 mln usd, they basically are raising 84 mln usd for beneficence to iceland's inhabitants.

This is a big sum of money, that would make really the difference  for a small third world country with internet access (maybe in south asia?), where if we give away some dollar we could expect mass adoption in no-time.

Just my 2 cents

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March 02, 2014, 11:36:38 AM
 #2

sorry i posted it in "announcements" for mistake.

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March 02, 2014, 11:42:23 AM
 #3

nah fuck it for real let's cancel all these shit coin doge clones and start doing the world some good. let's do it with every poor ass country starting with Somalia

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March 02, 2014, 12:00:30 PM
 #4

Somalia would be good Smiley

Pls if there's a mod move this thread from there, we're getting submerged by shitty-coin announcements in a matter of seconds!!

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March 02, 2014, 12:01:30 PM
 #5

this thread will probably stay here for day's, now we just need to contact the piratecoin dev's and get them to change it to Somalian pirate Loot (SPL) and set up a charity. LOL'S

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March 02, 2014, 12:04:44 PM
 #6

Not to be negative, but I think in real terms the model makes no sense whatsoever. There's no way to distribute the coins fairly to citizens without A. being wide open to fraud, or B. incurring an infeasibly massive overhead in terms of man-hours to validate the identities of claimants. Auroracoin will sink when people start to think through the logistics and realise it's not possible.

As much as I share the sentiment of doing good for the less fortunate, there are far more practical & beneficial ways to go about it. Throwing money at the poverty problem has never worked historically and introduces additional problems like power imbalances, corruption, and devaluing existing local markets.

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erre (OP)
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March 02, 2014, 10:23:26 PM
 #7

Not to be negative, but I think in real terms the model makes no sense whatsoever. There's no way to distribute the coins fairly to citizens without A. being wide open to fraud, or B. incurring an infeasibly massive overhead in terms of man-hours to validate the identities of claimants. Auroracoin will sink when people start to think through the logistics and realise it's not possible.

As much as I share the sentiment of doing good for the less fortunate, there are far more practical & beneficial ways to go about it. Throwing money at the poverty problem has never worked historically and introduces additional problems like power imbalances, corruption, and devaluing existing local markets.

This is not "free" money: it's given out by the community with the purpose of increasing crypto publicity and adoption.
Validation is not unfeasible, u only need to have some kind of anagraphic database, as auroracoin have. Of course someone will try to abuse the system, but there are many ways (i.e. you can spread money beetween poor people simply by giving paper wallets to some trusted charity, they would be glad to distribute them)

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March 02, 2014, 10:25:26 PM
 #8

People in the third world need safety and access to food and water.
Do you really think they would somehow without money, computers and electricity buy 'third world coins?' Huh

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erre (OP)
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March 02, 2014, 10:39:55 PM
 #9

People in the third world need safety and access to food and water.
Do you really think they would somehow without money, computers and electricity buy 'third world coins?' Huh

They don't need to buy any, the concept as i said is like auroracoin: we'll give them money for free.
People around the world buy (mainly for greed), and some small third-world country takes the benefits. If it's possible to raise the same amount as for auroracoin we can achieve i.e. a 10% PIL boost for gambia, it would mean big news, doing a good thing and possibly mass adoption.

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March 02, 2014, 11:10:11 PM
 #10

Now for some small details..
How would these people be able to actually buy something they need with this coin? Trusting a bank or other local organization to spread the coins equally among the people? Cheesy

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March 02, 2014, 11:19:00 PM
 #11

Now for some small details..
How would these people be able to actually buy something they need with this coin? Trusting a bank or other local organization to spread the coins equally among the people? Cheesy

we need local business to accept our coin, that wouldn't be impossible if they are backed by btc and so also by usd. For spreading coins, we could trust a charity organization.

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March 02, 2014, 11:23:00 PM
 #12

Before taking the time and effort to respond to that..
Not trying to sound too skeptical, but have you actually been in a third world country for yourself?
 

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March 02, 2014, 11:30:12 PM
 #13

I'm a Designer and Marketer, if anyone wants to work with me for developing a coin that actually helps 3rd world countries, then pm me. You must be able to modify code, and do PoS instead of PoW for the coin.

Little info: My coin will connect directly with a major charity currently in a underprivileged country.

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March 02, 2014, 11:37:19 PM
 #14

I'm a Designer and Marketer, if anyone wants to work with me for developing a coin that actually helps 3rd world countries, then pm me. You must be able to modify code, and do PoS instead of PoW for the coin.

Little info: My coin will connect directly with a major charity currently in a underprivileged country.

+1 to the POS idea! You should also want it to work with absolutely no wallet except the paper wallet.
I have no technical coding skills, but i would be glad to help in any possible way.


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March 03, 2014, 12:14:07 AM
 #15

How about just using bitcoin for that.

People will just throw money in a new promising coin for greed, not charity. Good luck if you want to ask people to give you bitcoins for charity. The main objective would be publicity and mass adoption, charity is only an added value to the concept.

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